RUONIA Rate Drops to 14.88% on Wednesday

17:49; 08 April 2026 year

### Russian Overnight Rate Drops to 14.88% The Russian Overnight Index Average (RUONIA), a key indicator of short-term borrowing costs in rubles, fell to 14.88% on Wednesday. It is important to note that the RUONIA rate is linked to the coupon payments of a significant portion of floating-rate bonds. RUONIA represents the average rate at which Russian banks lend to each other on an overnight basis. It is calculated daily by averaging interbank lending transactions among the top 35 Russian banks and is published on the official website of the Central Bank of Russia. On the same day, the RUSFAR ON RUB (overnight ruble rate) stood at 14.74%, while the RUSFAR ON CNY (overnight yuan rate) was at 3.6%. RUSFAR (Russian Secured Funding Average Rate) serves as a benchmark: - It reflects the level of rates in the Russian money market. - It is based on the average values of repo transactions with a central counterparty. - It is included in the list of financial indicators approved by the Central Bank of Russia. It is worth noting that RUONIA is an unsecured rate, while RUSFAR is based on secured transactions. Both rates are key indicators of the cost of money in the market and are used for floating rates in bonds. RUONIA is calculated by the Central Bank of Russia based on transactions among the top 35 banks, while RUSFAR is calculated by the Moscow Exchange for different terms (overnight, 1 month, 3 months, etc.). This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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